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There’s a completely separate economy for property owners and people with capital than those without. The gap between the two is harder and harder to shoot. The
by taurath 2y ago
There’s a completely separate economy for property owners and people with capital than those without. The gap between the two is harder and harder to shoot. The middle doesn’t exist in a lot of places, and it’s mostly legacy/inheritance that keeps people in the same economic class.
As the article says, the top 10% of income earners account for 50% of the spending. I’d bet the top 1% accounts for over 35%. The rich rule, for now.
- TuringNYC 2y agoEconomist Thomas Piketty writes about this in great detail https://en.wikipedia.org/wiki/Thomas_Piketty https://en.wikipedia.org/wiki/Thomas_Piketty
- tonyedgecombe 2y ago>the top 10% of income earners account for 50% of the spending And hence climate change and environmental degradation. Something to remember every time someone says think of the poor as an excuse for not dealing our emissions.
- baq 2y agoFeudalism is the limit of capitalism without systematic pushback from the regulator.